Indian Prime Minister Narendra Modi, center, unveils the logo of 'Make in India' initiative in New Delhi, India, Thursday, Sept. 25, 2014. Scores of business leaders from India and abroad attended the launch of the initiative where in the Indian Prime Minister called on manufacturers across the globe to come and make India a manufacturing hub. (AP Photo/Saurabh Das)
(The Associated Press)

NEW DELHI – India's prime minister has launched a campaign to entice investment and promote the country as the world's next cheap labor economy.

The "Make in India" campaign is as much a slick marketing campaign as it is a promise to streamline bureaucracy and make India investor friendly.

Prime Minister Narendra Modi said at a launch event Thursday that "the whole world is ready to come here."

India's 1.2 billion people are anxious to see the economy expand and create more jobs. Some 13 million Indians become old enough each year to join the workforce.

Modi has been promoting India as the next manufacturing powerhouse. That's a title long held by China, which is now growing wealthier and pushing toward becoming a consumer economy.